Direct Payment by Spartan Stores Sample Clauses

Direct Payment by Spartan Stores. Spartan Stores may make direct payments to each eligible Executive or Beneficiary as benefits become due under the terms of the applicable Executive Compensation Plan. Spartan Stores shall notify the Trustee in writing of its decision to make such payments directly prior to the time amounts are payable to Executives or their Beneficiaries. Subject to Section 3, Spartan Stores may direct the Trustee in writing to reimburse Spartan Stores from the Trust, and debit the applicable Sub-Trust of the applicable Executive, for amounts Spartan Stores paid directly to the Executive or Beneficiary on or after the date the funding obligations of Section 1.2 have been met. Subject to Section 3, the Trustee shall reimburse Spartan Stores for such payments promptly after the Trustee receives satisfactory written evidence that Spartan Stores has made the direct payments. In addition, if the principal of the Trust (including any Sub-Trust), and any earnings thereon, are not sufficient to pay any portion of any benefit in accordance with the terms of the Executive Compensation Plans, Spartan Stores shall make the balance of each such payment as it falls due. The Trustee shall notify Spartan Stores where principal and earnings are not sufficient.